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Baroda E-Business Pack

  • Overview
  • Terms and Conditions
  • Interest Rates and Charges

Baroda E-Business Pack caters to the needs of finance of firms/companies undertaking digital as well as non-digital transactions of MSME service sector and all retail trade units. It facilitates linkage with POS machine/or code/UPI based app payment gateway for digital transactions.

Eligibility
  • Minimum 2 years in existing business activity with at least 10% of the total sales for last 6 months should be in digital mode and the firm/company must be profit making (cash profit) for the last two years.
  • Addition: Promoter's equity of minimum 0.333 times (1/3rd of credit facilities) requested above Rs. 10 lakhs (DE ratio should be minimum 3:1)

Type of Facility
  • Overdraft/demand loan/term loan/composite loan for working capital requirements and financing capital expenditure to MSME regulatory.

Limit
  • For working capital and term loan maximum up to Rs. 5 lakhs (out of which term loan limit will be maximum up to Rs. 100 lakhs)

Period
  • Overdraft: 12 months
  • Demand loan/term loan: Maximum repayment period shall be up to 60 months (including maximum moratorium period of 6 months)

Margin
  • Working capital: Minimum 6.25% on projected/accepted non-digital turnover and 7.50% of the portion of turnover which is projected to be digitally transacted.
  • Demand loan/term Loan: 25%

Concessions
  • 0.25% concession on applicable rate of interest as per bank’s extant guidelines will be allowed, subject to minimum interest @ MCLR + SP.

Top-up Loan
  • Top up loan in case of term loan/demand loan, may be considered after a lock-in period of 12 months (from the date of 1st instalment) subject to regular repayment/satisfactory conduct of account in the past.

Other Guidelines for Borrowers under Micro and Small Segment
  • No collaterals are to be obtained for limits up to Rs. 10 lakhs and all eligible loans will be covered with NCGTC guarantee scheme under PMMY loans (Pradhan Mantri Mudra Yojana).
  • Credit limits above Rs. 10 lakhs to Rs. 200 lakhs to other beneficiaries engaged in the activities of the service sector (other than retail traders activity) will be collateral free and eligible loans will be covered with CGTMSE guarantee scheme.
  • Credit limits above Rs. 10 lakhs to Rs. 500 lakhs to general traders (retail traders) other than mentioned above in other guidelines, will be a collateral secured by the way of, fixed deposit, LIC/KVP/Liquid security, equitable mortgage of non-agriculture land standing in name of enterprise or proprietor/partner/director/close relatives with realizable value cover minimum of 50% of credit facility sanctioned.

Competitive Pricing Linked to tenor based MCLR.

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